The Week in Deals
1 deal| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Nov 1 | Utility PPA | Solar+BESS | Longroad Energy | HECO | 120 MW | HI | Closed | Largest renewable project in Hawaii at PPA signing. 25-year PPA with 10-year extension option (35-year total operating life). Postponed 2022 due to supply-chain crisis, re-selected in Stage 3 final award Dec 2023. PPA signed Nov 2025, sent to PUC for review. Will power ~40,000 Oahu homes. Site in Kunia working with Hawaii Farm Bureau on agrivoltaics. RFP: Stage 3 Oahu (original 2020 award; re-selected 2023 final award after 2022 postponement). Hawaii PUC docket: Stage 3 Oahu (SP21-412 Mahi Solar Land Use Commission). Expected/actual COD: Expected late 2028. Contract term: 25 years. Storage component: 120 MW / 480 MWh (4h duration). |
Change of Control
9 movesMark Rajcevich joined as Chief Restructuring Officer at Pine Gate Renewables (from Managing Director, Alvarez & Marsal)
A&M MD with 20+ years of restructuring experience installed as CRO when Pine Gate filed Chapter 11 — one of the largest US utility-scale solar developer bankruptcies of the post-IRA-rollback era. Co-founder Ben Catt remains CEO during the sale process.
Jack Godshall promoted to Chief Operating Officer at Jupiter Power
Godshall moved from CCO to COO, replacing founding principal Audrey Griffin who stepped down. He oversees a growing portfolio of nearly 8 GWh of battery storage projects across 12,000+ MW in development from California to Maine.
Audrey Griffin departed Jupiter Power as Chief Operating Officer
Griffin was a founding principal of Jupiter Power and served as COO since 2019. Her departure closes a chapter for one of the early leaders in the US utility-scale battery storage market.
Laura Wellborn named Chief Revenue Officer at Jupiter Power (from Vice President of Trading, Jupiter Power)
Wellborn joined as CRO in the same restructuring that moved Godshall to COO and transitioned Audrey Griffin out — completing the C-suite at the BlackRock-backed BESS developer running 1.6+ GW of operational projects.
Chris Heasley joined as Partner, Energy M&A at Latham & Watkins (from Equity Partner, Kirkland & Ellis)
Austin-based energy M&A partner Heasley moved from Kirkland to Latham as part of Big Law competition for energy dealmaking talent in Texas.
Samara Shepherd joined as Partner, Investment Funds at Vinson & Elkins (from Partner, Kirkland & Ellis)
V&E hired investment funds partner Shepherd from Kirkland in Houston, part of V&E's effort to compete with Kirkland in energy-focused fund formation.
Chris Bennett joined as Partner, Corporate/Energy at Vinson & Elkins (from Partner, Weil Gotshal & Manges)
Bennett returned to V&E from Weil Gotshal as part of the same late-2025 Houston expansion, bringing energy corporate/M&A expertise.
Craig Cornelius appointed Independent Director at Sunrun (from President and CEO (concurrent), Clearway Energy Group)
Sitting Clearway CEO Cornelius joins the Sunrun board — a notable cross-pollination between utility-scale and residential solar leadership. Sunrun explicitly disclaimed any current/future business relationship with Clearway.
Rebecca Kujawa appointed Independent Director at Equinix (from Former President & CEO, NextEra Energy Resources)
Six months after retiring as NEER CEO, Kujawa joined Equinix's board — bringing renewables/PPA structuring experience to the world's largest data-center REIT as it pursues massive 24/7 carbon-free power deals.
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